PNB Net flat, treasury bites

Punjab National Bank has registered a mere 0.55 per cent rise in its net profit at Rs 1,011.3 crore for the October to December quarter of the current fiscal compared to the corresponding period in the previous financial year primarily due to a decline in treasury income. The bank’s net profit for the same quarter in the previous fiscal was Rs 1,005.8 crore, CMD K.R. Kamath said.

Treasury income for the third quarter in the current financial year stood at Rs 114 crore while it was Rs 607 crore in the corresponding period in 2009-10.